Antero Resources 2016: Spending 23% Less, Drilling 110 Wells

February 18, 2016

In January Antero Resources, one of the biggest and best drillers in the Marcellus/Utica, released their fourth quarter and full year operational (not financial) update for 2015 (see Antero Resources 4Q15 Update: NatGas Sales Averaged $4.40/Mcf). Antero still hasn’t released their 4Q15 and full 2015 financial update, but yesterday the company did release their 2016 capital budget and guidance. Lots of interesting details, like this: Antero will spend $1.4 billion in 2016 on drilling, down 23% from the $1.8 billion they spent in 2015; they plan to complete a staggering 110 wells in 2016 and by the end of the year they will have 70 wells drilled but not completed (DUCs); of the $1.4 billion they’re spending in 2016, $1.3 is for drilling and completions, and $100 million is for new or renewed lease deals. Here’s the full 2016 looking forward update from Antero…